Highlighting the utility industry’s growing use of Internet-based data
management tools to develop modern grid networks, GE (NYSE: GE) Chairman
and CEO Jeff Immelt today cited GE’s Grid
IQ™ “Solutions as a Service” (SaaS) offering as one of nine
industrial service technologies that are creating more modern,
interconnected businessesin a 21st century economy,
during an event held in San Francisco.

Grid IQ SaaS is a cloud-based grid management fee-for-service system
aimed at meeting the operational technology needs of smaller and
mid-market utilities that want to avoid the overhead expenses involved
with developing their own smart grid management networks.

With the world’s electricity demand expected to increase by more than 70
percent by 2035, GE’s Grid IQ SaaS and other solutions are being
deployed to help utilities around the world modernize their grid
networks to more effectively meet their growing capacity, environmental
and security needs.

In stressing the importance of Grid IQ SaaS as one of nine GE digital
technologies that are helping to revolutionize vital industrial sectors,
Immelt said, “The internet has changed the way we consume information
and talk with each other, but now it can do more. By connecting
intelligent machines to each other and ultimately to people and by
combining software and big data analytics, we can push the boundaries of
physical and material sciences to change the way the world works.”

Grid IQ SaaS allows utilities to monitor, manage and control their grid
more intelligently. Using a cloud-computing services model, these
capabilities can be deployed in 50 percent less time than traditional
turnkey project models and 10 percent of the estimated implementation
cost. This empowers utilities to embark upon grid modernization projects
without worrying about the financial impact of ongoing IT operations.

Already, cities in Georgia are partnering with GE and utilities to
utilize the Grid IQ SaaS tools to improve energy efficiency and to
reduce cost.

“We are proud to offer this new service to our member communities as
they pioneer the future of energy in Georgia. To offer the best service,
we have teamed with GE — a trusted industry leader — to implement
low-cost, effective solutions and to improve the use and delivery of
energy to the cities’ customers,” said Keith Bass, CEO of Electric Cites
of Georgia. “The City of Norcross is the first municipality in Georgia
to take advantage of our Grid Modernization service, which provides a
low-risk improvement of utility operations and ultimately benefits their
customers.”

Grid modernization projects are capital intensive, but GE’s SaaS
offering allows the utility to modernize its operations on an OPEX basis
versus a CAPEX basis. This change can minimize the utilities’ initial
project expenses, and smaller utilities and cooperatives supporting
municipalities can expect benefits that could increase their net income.
Grid IQ SaaS replaces the utilities’ IT infrastructure requirements with
cloud-based computing and helps utilities manage risks associated with
long-term technology investment decisions. SaaS transfers the investment
need from the utility to GE by deploying a standard system.

“GE’s Grid IQ SaaS offers utilities a new method for monitoring,
managing and controlling their grids more intelligently,” said Mike
Carlson, general manager of smart grid solutions for GE’s Digital Energy
business. “The menu of services available under our hosted SaaS server
program offers utilities a cost-effective alternative for meeting their
data management challenges.”